The 1999 Constitution Section 82 If the Appropriation Bill in respect of any financial year has not been passed into law by the beginning of the financial year, the President may authorise the withdrawal of moneys in the Consolidated Revenue Fund of the Federation for the purpose of meeting expenditure necessary to carry on the…
The 1999 Constitution Section 80 (1) All revenues or other moneys raised or received by the Federation (not being revenues or other moneys payable under this Constitution or any Act of the National Assembly into any other public fund of the Federation established for a specific purpose) shall be paid into and form one Consolidated…
Sometime in February, 2021, the Central Bank of Nigeria (CBN) pursuant to a CIRCULAR directed all banks to desist from transacting in and dealing with entities dealing in cryptocurrency. The CBN also directed banks to close accounts of persons or entities involved in cryptocurrency transactions within their systems. This directive as contained in a circular…
Entering a wrong digit when typing in bank details can instantly change the beneficiary. Same thing can apply when the correct digits are entered but the wrong bank is chosen. You can read more about mobile money and how is it governed here. While checking the beneficiary name can easily solve this, however as humans errors are sometimes unavoidable. Given the…
This article seeks to let you know in a nutshell few important things before you consider taking out a mortgage. What is a Mortgage? A mortgage is simply a conveyance of land or assignment of chattel as a security for the repayment of a debt or discharge of other obligation for which it is given,…
People are conducting business everyday and services are being continuously rendered. Money is in circulation around us and it is not uncommon for debt to arise where there is money in circulation. This could be as a result of failure to repay a loan or failure to pay for services rendered. What is Debt Recovery?…
We have all been hearing about mobile money, but do we know what it is really about or how it is governed? By the end of this article, you will understand what mobile money is, the bodies responsible for regulating mobile money, the participants of mobile money, its benefits and the laws by which it…
